The global financial crisis hit nearly four years ago in 2008 but America and Europe appear to still be stuck in the mud. Even the Asian market has softened. But is this a recession? Or are we seeing a reconfiguration of the economy as the technological seeds laid over the last few generations finally germinated and bear fruit? Prices for made goods are collapsing as the cost of manufacturing has plummeted, while the cost of sourcing and distribution has crashed, caught between globalisation and the Internet. Even innovation, the source of all those sexy new products, has been democratised with the investment required to development new products taking a nosedive. Our existing business models were not designed to thrive, or even survive, this this environment. While the current market is a challenge to navigate, a lot of the problems we're seeing could be result of a collapse of antiquated business models rather than the collapse in demand that these businesses are intended to service.
Stephen Tame (CIO @ JetStar), Mike Zimmerman (principle @ Technology Venture Partners) and myself are on Mark Jones’ The Scope this week. The show looks at the impact of the global economic crisis on the local and international technology industries.
The worldwide economic crisis has caused business to completely reevaluate spending priorities, and IT is no exception. What strategies must CIOs consider during the downturn? What impact will a difficult economic climate in 2009 have on enterprise technology spending?
Topics covered include:
- What IT projects are likely to be cut immediately?
- What IT projects will likely survive — what can’t we live without?
- What advice do we have for CIOs evaluating IT projects. Is this the catalyst for more spending on outsourcing, SAAS, etc?
- Other observations about the impact of worldwide downturn? eg. will this redefine how we think about sourcing IT products? What solutions should CIOs bring to the boardroom?
About The Scoop
The Scoop is an open, free-flowing conversation between industry peers. It’s about unpacking issues that affect CIOs, senior IT executives and the Australian technology industry. The conversation is moderated by Mark Jones, The Scoop’s host and producer. More information about The Scoop, including a list of previous guests, can be found here: